The Russian Foreign Ministry clarifies that Moscow will adequately respond to any Western attempts to seize sovereign real estate assets.
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A man walks in front of the Russian Foreign Ministry headquarters in Moscow, Russia, December 22, 2020. (AFP)
The seizure of Russian frozen assets by any Western country would be regarded as “outright theft” and would be effectively responded to, Sputnik reported on Sunday citing the Russian Foreign Ministry.
“We have spoken more than once about the illegitimacy of unilateral coercive measures taken by Western countries in relation to Russian property abroad. We have repeatedly noted that the seizure of property of the Russian Federation is unlawful and violates the fundamental principles and norms of international law, including the sovereign equality of states,” the ministry said.
Any such action would be considered “outright theft by one group of states of the property of another… At the same time, the countries of the ‘collective West’ can be sure that any attempts by them to confiscate Russian real estate, just like other assets, will inevitably entail an adequate and effective response,” it said as per the Russian media outlet.
Read more: EU mulls profiting from billions of illegally frozen Russian funds
A February meeting
Led by the United States, G7 countries have initiated active efforts in 2023 to investigate methods for seizing the assets of Russia’s central bank.
Kiev’s allies have been grappling with further means to send more funds as the war nears its two-year mark, and have been looking into the allocation of frozen Russian funds – estimated at $300 billion – as military aid to Kiev.
Earlier this month, the White House backed a bill that would seize Russia’s frozen funds and transfer them to Kiev as foreign aid, Bloomberg reported, citing a note from the US National Security Council (NSC) to the Senate Foreign Relations Committee.
The development comes after the Financial Times, citing a US official, reported in December that G7 members might address this matter during a potential leaders’ summit scheduled for February, as Washington believes that the window for deciding on the utilization of frozen Russian funds is narrowing.
Responding to the reports then, Kremlin Spokesperson Dmitry Peskov warned that attempts to utilize Russia’s frozen assets as funds for Ukraine would be met with consequences.
Peskov pointed out that this topic has always been a discussion matter among the US and EU, but that it is profoundly unlawful, unacceptable, and could bring damage to global finance and the international system.
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